Southern Cross CFO Kelly dies aged 54

Southern
Cross Media Group has announced the death on Sunday of its chief financial officer, Stephen Kelly.

Chief executive Rhys Holleran described Mr Kelly, who was 54, as “without question one of the most talented men I have ever worked with," adding: “the financial markets just adored him."

Mr Kelly, who had a 14-month battle with pancreatic cancer, had been in relatively good health just prior to Christmas but his condition had deteriorated rapidly in the New Year, said Mr Holleran. He had taken indefinite sick leave last week to receive medical treatment.

On January 14, Southern Cross announced it had successfully negotiated the refinancing of its $765 million syndicated debt facility which matures in March 2015. Mr Kelly had led those negotiations.

He was previously chief financial officer of SMS Management & Technology and joined Southern Cross three years ago.

In a statement Southern Cross said: “Stephen was a highly respected member of our senior team and held in deep admiration and affection by our board, our company, its staff and the investor community.

“We offer our deepest sympathies and condolences to the many friends that Steve had at SCMG and, more importantly, to his wife Alex, children Josh and Ben, and his many friends."

It added: “In the interim, SCMG is giving immediate attention to ensure that the functions of the CFO are completely fulfilled."